Wales Online reported today on the increasing number of UK pension funds taking part as a lead plaintiff or “active participant” in securities class actions, which have to be pursued in other countries since the UK does not currently have a class action procedure. The data comes from the National Association of Pension Funds, a UK assocation that provides resources to fund managers and trustees. NAPF has reported a large increase in the number of pensions that have been involved as in a class action during the past year. The report’s key findings included that of 23% of pension funds have now ”actively participated” in a class action, while 73% participated in some form to collect a settlement. In 2007, the NAPF published a guide for trustees of UK pension funds discussing the benefits of getting involved with securities class action litigation in the U.S. and other jurisdictions that have a securities class action procedure (specifically mentioned are Canada, Australia, and the Netherlands). The guide, entitled Securities Litigation-Questions for Trustees is available at the NASP website.
UK Pension Funds an Increasingly Key Player in Securities Litigation Abroad, Association Reports
September 24, 2008 by Paul Karlsgodt
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